Memorial Production Partners Updates Financial Guidance

Memorial Production Partners LP (NasdaqGS: MEMP) detailed updates to its 2014 financial guidance, the company said March 25. The company noted that the financial guidance was revised in connection with its recent acquisition, for $173 million, of producing Eagle Ford properties from Alta Mesa Holdings LP.The acquisition was funded from borrowings under Memorial Production Partners’ $2 billion multi-year revolving credit facility, whose borrowing base prior to the acquisition was $845 million, the company said.The acquired properties are on 15,200 gross acres in Karnes County, Texas, and they are at the...